Nvidia (NASDAQ: NVDA) enters August with its strongest seasonal setup in 20 years, as the stock posted gains in approximately 80% of observed August periods, according to TrendSpider data shared on August 3. This compares to positive returns in roughly 71% of May periods, 70% of February and November periods, and 65% of September periods. The stock is testing its 200 EMA, a long-term trend indicator, with shares trading around $200 and the 200 EMA near $191. Historically, previous tests of this support level attracted buyers and were followed by strong rallies. The next major catalyst is the fiscal second-quarter 2027 earnings report scheduled for August 26, with management guiding for revenue of approximately $91 billion and Wall Street expecting revenue between $91 billion and $94 billion, with adjusted earnings per share of roughly $2.08 to $2.12. Nvidia generated a record $215.9 billion in revenue during fiscal 2026, up 65% year over year, and revenue reached $81.6 billion in the first quarter of fiscal 2027, an 85% increase from a year earlier. Data center revenue accounted for more than 90% of total sales, underscoring the company's leadership in AI infrastructure.